Statement from Margarida Jorge, campaign director for Lower Drug Prices Now, on news that the FTC will consider tougher approach to pharmaceutical mergers:
This announcement from the Federal Trade Commission is big news, and an important step toward advancing a healthcare system that guarantees every American can afford the medicines they need.
Today, Big Pharma’s monopoly control over drug prices continues to put industry profits over the health of patients. And although nearly every new medication developed in the past decade was paid for with American taxpayer dollars — including COVID vaccines and treatments — these drug corporations continue to abuse their power, game the system to avoid competition, and boost their profits on life-saving medicines at our expense.
Unfortunately, history tells us this pattern of behavior will not stop unless our leaders intervene to reform the rules and hold this industry accountable for treating consumers fairly. Government action is long overdue, and there’s no better time than the present to take action when so many Americans are being forced to choose between their medications and other needs in a pandemic.